Efforts to make it easier for investors to do business in the Philippines are finally starting to pay off. The World Bank and its investment arm, International Finance Corp., released last week the 2014 Doing Business global rankings, with the Philippines posting the most significant jump among the 189 countries covered by the study—30 rungs, from 138th in the 2013 rankings to 108th in the latest.
By Roberto F. de Ocampo
Without a doubt, the most effective national tagline we have crafted to date is “It’s more fun in the Philippines,” which, as Tourism Secretary Ramon Jimenez puts it, captures the essence of the Filipino character.
By Amando Doronila
Speaking from the Alpine heights of Davos, Switzerland, President Aquino spun a stupendous tale at the World Economic Forum (WEF) of the dramatic transformation of the Philippines from being the “sick man of Asia” into a dynamic country swimming against the current of global economic downturn in a record time of three years.
By Rigoberto Tiglao
Foreign direct investments into the Philippines during President Aquino’s first two years in office have steeply fallen, putting the country only a notch above Cambodia as the least-favored site in East Asia for offshore investors.
This is in reaction to Dr. Bernardo M. Villegas’ column titled “In defense of Charter change” (Inquirer, 8/11/12). He cites China, Vietnam and Indonesia as countries that have achieved much higher levels of foreign direct investments (FDI) than the Philippines, then quickly segues to the need to “remove from our Constitution the many restrictions against foreign equity investments in such vital sectors of our economy as media, education, public utilities, mining, and real estate.”